Deal or No Deal? Analyzing a Wholesale Real Estate Property

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  • Опубліковано 23 гру 2024

КОМЕНТАРІ • 115

  • @Liliinvests
    @Liliinvests  3 роки тому +3

    ***Join my Mentorship Program and work with me every week on Zoom!***
    bit.ly/3eDBTmE​
    ***Connect with me on Instagram***
    instagram.com/liliinvests​
    ***Watch these next***
    **How to Call Agents for On-Market Wholesaling:**
    ua-cam.com/video/HXBWDczPq1k/v-deo.html​
    **Learn about Foundation Issues In This Property Walkthrough Vlog**
    ua-cam.com/video/QVzoeYP74PE/v-deo.html

    • @CyclingSatan
      @CyclingSatan 3 роки тому

      Hey Lili. I sent you a message with questions about your mentorship on FB and IG. Please get back to me

  • @robhildebrandt5578
    @robhildebrandt5578 3 роки тому +23

    Several thoughts:
    - I like your deal calculator and would probably stick to the numbers its telling you
    - Jerry Norton always asks the listing agent "What do you think would be the back-end value?" (Basically the ARV.) I think he does this to see if they're on the same page or if they're even close.
    - He would also challenge the listing agent's assertion that other offers are coming in at $110k. He would call them on how much work is needed to get it up to even with the comps. I don't see how any savvy investor could make anything on the back end if they're paying that much up front plus rehab costs and minus closing costs/commissions (unless the ARV is much higher than you've projected, which I doubt). And even if they do offer that much initially, they may drastically drop their offer after doing their due diligence.
    - Other investors may offer $110k but will it actually close? Will they perform on the contract?
    Great video overall, Lili! Please do more of these.

    • @Liliinvests
      @Liliinvests  3 роки тому +4

      Great insights, I’m excited for you to see the update video I’m posting next week :)

    • @robhildebrandt5578
      @robhildebrandt5578 3 роки тому +2

      @@Liliinvests Thanks! I'm looking forward to the follow up video!

    • @Liliinvests
      @Liliinvests  3 роки тому +1

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

    • @jessicafisher1188
      @jessicafisher1188 3 роки тому +1

      Love these open conversations and opportunities for continued growth

  • @ethanstewart-duke2524
    @ethanstewart-duke2524 3 роки тому +12

    As a Texas realtor, I am not knowledgable on your market currently but if I had to give feedback I would say that you might have been a bit ambitious at 120, that isn't too far off of new construction... I do think that you overestimated a little bit on repairs so that saved it a lot! I know the housing market is hot right now, but the key to sustainable wholesaling and investing is conservative underwriting of deals... these are my thoughts though. Love your channel!

    • @Liliinvests
      @Liliinvests  3 роки тому +4

      Great insights! Definitely keep an eye out for next weeks update, I’m excited to share what happened with this one.

    • @ethanstewart-duke2524
      @ethanstewart-duke2524 3 роки тому +2

      @@Liliinvests Awesome!!! I am excited to watch.

    • @Liliinvests
      @Liliinvests  3 роки тому +1

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

    • @adrianelicerio305
      @adrianelicerio305 3 роки тому +1

      Hey Ethan, what part of Texas are you in?

    • @ethanstewart-duke2524
      @ethanstewart-duke2524 3 роки тому +2

      @@adrianelicerio305 The Abilene area!

  • @micahjaquen4716
    @micahjaquen4716 3 роки тому +4

    Thanks Lili I have been binge watching your videos and done my research I’m finally going to give it a try. Ill be back with an update.

  • @SumbodieOnederful
    @SumbodieOnederful 3 роки тому +4

    An affirmation I’ve been telling myself is “I have somewhere soft to land in every step of my journey” and for me I apply this to my REI journey. Your videos have been just that somewhere soft to land, especially this one which came at the perfect time🙏🏾 Thank you Lili!

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @TheeBaptiste
    @TheeBaptiste 3 роки тому +4

    King khan used to do a deal or no deal type of thing too, unfortunately he stopped cause there wasn’t high demand. I’m so glad to see it resurrected on your page.🐐

  • @mauriel_rei
    @mauriel_rei 3 роки тому +3

    Great Video. I used Propstream and here are the comps I found. Two things to note, when I set the distance to .5 miles, the comp for $200,000 didn't show up. What did show up was a house that sold for $195 in fairly great condition with an in-ground pool. 1101 S 33rd St, Broken Arrow, OK 74014. I did not use this as a comp. The comps I pulled were 2617 E Galveston Pl @ 170k , 2516 E El Paso St @ 147k, 2517 E El Paso St@ $157, and 3200 E Louisville St @ $168. Average PPSF $102.65. So your numbers of 100-105 PPSF looks spot on. I would agree with @Rob Hildebrandt "I like your deal calculator and would probably stick to the numbers its telling you" and challenging the listing agent on the other offers coming in at $110k . Cant wait till the follow up video! You're helping people change their lives sharing your real estate journey !👍💲

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @kewlcat6
    @kewlcat6 2 роки тому

    THank you on phone with my firs deal and used your online video and am sure I passed as competent this is my fist call and feeling optimistic

  • @ElliottsLuxury
    @ElliottsLuxury 3 роки тому +12

    Hey Lili, I wanted to add that from my Oklahoma investing experience a home that’s purchased using FHA, the home buyer can elect to waive an inspection of a home, as long as it’s under $100,000 and still qualify for FHA financing.
    Thank you for the content. 👋

    • @unknowncuyler5449
      @unknowncuyler5449 3 роки тому +3

      i just bought my home FHA under 100k actually 90+ closing. wish i knew that. would have saved me some money.

  • @steavenjosey
    @steavenjosey 3 роки тому +13

    Holding it down for the newbies thanks

    • @ChrisAllenJ
      @ChrisAllenJ 3 роки тому

      👏🏾 👏🏾👏🏾

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @HousesByVic
    @HousesByVic 3 роки тому +4

    Very good stuff Lili. You were a big inspiration in me getting over my fear and starting my own channel. So happy for your rapid growth!!!

    • @Liliinvests
      @Liliinvests  3 роки тому +1

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @WinningTints
    @WinningTints Рік тому

    Your awesome. Keep up the great work!

  • @Hogheadcheese222
    @Hogheadcheese222 3 роки тому +2

    Stepping out and talking to sellers has been a challenge but videos like this motivates me.

    • @Liliinvests
      @Liliinvests  3 роки тому

      Glad to hear it!!!

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @juanthegotorealtor
    @juanthegotorealtor 3 роки тому +2

    I think it was a good offer. Like you said it is a hot market and once you fix the foundation. Buyers would come because of the reasonable price of the home. If it was in my market in Ohio you would get multiple offers on this property. Good Luck

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @forrealtyler
    @forrealtyler 3 роки тому +1

    Pausing video at 11:00 . I would not be comfortable with projecting the ARV of the property at $115 per square foot. But now thinking...$164,795 would be a great asking price especially in the hot market we are having! It'll give you negotiation room. Thank you so much for this video and taking this channel... a huge inspiration to beginning my REI journey! 🙏🏼

    • @Liliinvests
      @Liliinvests  3 роки тому +1

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @willsmith4474
    @willsmith4474 2 роки тому +1

    On this deal, I think it was wisdom not to low-ball the seller too low. I thought about adding their sell price of $124k together with your original lower offer of $70k which is $194k and then divide it by 2 which is an average of $97k. Allow $90k to be your starting point & $97k to be your top price. That's just a thought. Plus it also depends on how much you need/want to make on this deal. The question is how much are you willing to make on the deal?

  • @miguelstebelski6218
    @miguelstebelski6218 3 роки тому +1

    Lili correct me if i'm wrong: if you use 120/sqft for ARV you make it by far the most expensive property here, including that fixed-up sold for 203k. I was thinking, take that top 107/sqft and multiply by the size of your house: ARV = 153k 🤔

  • @1990Casanova1
    @1990Casanova1 2 роки тому

    Great vid. 👍🏽

  • @darkvator8218
    @darkvator8218 3 роки тому +1

    I'm going to watch all your vids....im new and I'm learning alot watching all your vids.. I'm also here in the miami Beach area. looking for property deals

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @omarrodriguez5616
    @omarrodriguez5616 3 роки тому +2

    Great video love what you are doing keep it up, really helping us newbies!

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @dareckwook7191
    @dareckwook7191 3 роки тому

    Can i simply buy that excel speadsheet formula please?

  • @yktv985
    @yktv985 7 місяців тому

    How do you get cash buyers to buy the property when it’s already listed? Can’t they see the price?

  • @nicolesendas481
    @nicolesendas481 3 роки тому +1

    Girl i love your channel. I'm trying to learn wholesaler, but I still haven't close any deals...I'm good at calculating arv and repair cost. However, I am having trouble finding properties and talking to agents or owners ( For Sale by Owner ) and also work with agents is hard because they ask for proof of funds and I don't have it!

    • @ernestosazo299
      @ernestosazo299 3 роки тому +1

      Hey Nichols try for the out of town owners. And it's a numbers game not all agents or brokers will be willing to work with you just don't give up and sooner than later you will perk some interests if you like I believe Lilli haves the info. I have an idea I will throw at Lilly I think that's her name Lilli that will help you one way or another. But since this is her show and she is good at it I must respect that before I can reply. I'm sorry. But unless she says it's ok or brings the info to you here I'm not going to step on her toes hope you understand. Ok but I will see what she says.

    • @AquaBlueKC
      @AquaBlueKC 3 роки тому +1

      Squad up with someone that can provide POF what's your market?

    • @nicolesendas481
      @nicolesendas481 3 роки тому

      @@ernestosazo299 thank you so much. I understand. I won’t give up...but definitely I need POF

    • @nicolesendas481
      @nicolesendas481 3 роки тому

      @@AquaBlueKC fix and flip

  • @iamwhoiam5331
    @iamwhoiam5331 2 роки тому

    If I have a buyer and he has pof and he’s my friend and partner in this Buisness what do I need to do ? Love you videos it changes my life when I found you

  • @jcmrealestatesvcs137
    @jcmrealestatesvcs137 3 роки тому

    Good Morning Lili. I agree with Rob Hildebrandt. Unfortunately, right now many properties are being listed well above the price they should be asking.
    There is quite a bit of over-pricing taken place. I have seen properties priced for as much is $200k over what the ARV is in my market which is New York City. And that is without the property being fully updated.
    So I would stick closer to the numbers my calculator tells me. If I wanted to offer more than what calculator told me, I would only offer $5000-10,000 more but not $20k more.
    Thank you for your videos. I will continue to watch and support you. Good Luck.

  • @alexfuentes1642
    @alexfuentes1642 2 роки тому

    You might be best off with the hard money lending option and flip it yourself . Because a cash buyer is not willing to cut his profit 50% if you give 50% of the purchase price . If you give the full 100% at no interest then maybe a cash buyer can give up 50% profit . But a very good video and very informative

  • @teddypgray
    @teddypgray 3 роки тому +1

    Did you ever consider that the rehab may be overpriced as well? That is my biggest weakness. I understand everything else but I have no idea how to calculate rehab.

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @alexgarcia1826
    @alexgarcia1826 3 роки тому

    You’re the best!!! Love all your videos! You got my subscription and 👍🏼

  • @romanhughes3144
    @romanhughes3144 3 роки тому +11

    Really hope you start closing 3-4 deals every month. It would be crazy because you have the videos from when your first started!

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @TMrlegacybuilder
    @TMrlegacybuilder 3 роки тому +2

    Hey great videos and love what you are doing. I was wondering if the owner was able to or willing to do creative financing .
    In this particular situation maybe telling the borrow that you are trying to flip it ; so maybe they might be willing to share in the profit. If so, then drop the asking price to your $75k and then they receive maybe 10 or 15 percent of the profit once it is flip. Or even just negotiate to exact it at $90K providing some money at closing and the rest at the close of the flip with a 10 percent profit share. Again all things is up for negotiation.
    Basically, it's a creative profit sharing flip. Or may do a sub 2 or Contract for deed and then flip it when your done.
    Let me know if these make sense to you and again love what you are doing.

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @andreac5251
    @andreac5251 3 роки тому +1

    Can u show us how you create your offer letter pls!

  • @coriimurray8479
    @coriimurray8479 3 роки тому +2

    Lili coming though with the information. Yaeee!!

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @andrikhdez
    @andrikhdez 3 роки тому

    How would you show properties in different markets?

  • @chrisintheclassroom
    @chrisintheclassroom 3 роки тому

    I think you were right on with everything. 90 is a bit aggressive, but you can definitely make it work.
    I would have taken 25k for the medium rehab and 25k for the foundation. So 50k for rehab - 10k for assignment. I would feel safe bumping ARV to 185. So 90k for MAO.
    I’m still learning a lot too. And I agree with other comments...cash buyers are taking some crazy chances with high offers just to get a property under contract. I think 90 is a good, high, aggressive offer.

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @ernestosazo299
    @ernestosazo299 3 роки тому +1

    I like the way you think and have no doubt you are going to get a whole lot better with analyzing your properties and/or the many repairs that you can see. But the ones that you don't see are the ones I would be very concerned about and would take my time to have more info about. Including having my own people. To provide their analysis. Including checking the credentials and rep of the company or person and I I would always ask for a copy of the assessment. And do my due diligence on the company and/or person who wrote it. I would not just accept any bodies word for it. Simply because folks are not as honest and attractive as you. However, I think you are going to reach an outstanding place and status in the real estate investing world. Keep going young lady. . .I believe the bigger the risk the bigger the profit I would be looking to include in my calculations. Is the market really that hot in the area to risk your time and money on this property? Is one thing that I would be considering though when speaking to the agent. Because of the amount of time to complete the work needed to bring the property up to a habitable state. You may want to consider if it's worth it. What was the assessment of the structural engineer and or the cause of the foundation issue? And I wonder if you had the info before you made your decision to continue to make an offer at a higher offer than your numbers provided? I know we are investors, therefore what we do will always involve risk. But that job would have had me kind of ready to move on to the next but of course after I made an offer.

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @iyanagaines2799
    @iyanagaines2799 2 роки тому

    Did they ask you for pof?

  • @TambaTman
    @TambaTman 3 роки тому

    Hello Lili thanks for all your videos they are really helpful. I was wondering how can someone get a hold of your calculator?

  • @unknowncuyler5449
    @unknowncuyler5449 3 роки тому

    hey lili what do you think about this rule that can sometimes apply? add 20-25k to ARV. add 10-15k to repair budget for a new hot tub. now run your numbers.

    • @Liliinvests
      @Liliinvests  3 роки тому

      adding a new hot tub won't automatically add 20-25k to arv. comps must support arv

    • @unknowncuyler5449
      @unknowncuyler5449 3 роки тому

      @@Liliinvests your not thinking outside the box. as a flipper, your final product wont be worth that? I live in northern michigan so we probably value this differently.

    • @unknowncuyler5449
      @unknowncuyler5449 3 роки тому

      @@Liliinvests imagine comps on a pool run 50-60k higher and building one is only 45k?

    • @Liliinvests
      @Liliinvests  3 роки тому

      @@unknowncuyler5449 I don't flip.

    • @unknowncuyler5449
      @unknowncuyler5449 3 роки тому

      @@Liliinvests ooooooooooooook sorry to bother you... so cold.

  • @cenafanist
    @cenafanist 3 роки тому

    How do u calculate your repairs

  • @danielsobek8176
    @danielsobek8176 3 роки тому +1

    Do you call realtors after typical work hours? or does it not really matter?

  • @on-point-clothing9553
    @on-point-clothing9553 2 роки тому

    Hello,
    You have amazing content and I really enjoy your videos. I am a brand new wholesaler that is very eager and ambitious and ready to put in the work. I have a couple of questions for you if you are able to give me some insight. Have you ever came across a subject property that was in a rural area and you were trying to find comps within the subject area. Well I came across this recently, I had the property under contract. What I did was comp the closest towns that was around in similarity, Sqf ect Well I end up losing the contract because the buyer stated it needed to be in the general area. Any suggestions or insight you have? Thank you!

  • @inmate0054
    @inmate0054 2 роки тому

    @lili. I’m moving my wholesaling into Texas market. I’d like to send you deals to partner on. What’s best way to send you stuff?

  • @albertharris4784
    @albertharris4784 3 роки тому

    Lili you hit different

  • @robbievan99
    @robbievan99 3 роки тому

    How could I buy the spreadsheet calculator that your brother built for you? Great information in all of your videos and appreciated so much!

  • @nsikankouassi
    @nsikankouassi 3 роки тому

    Lili how do you find the real estate agent’s information?

    • @TheOriginalCryptoPimp
      @TheOriginalCryptoPimp 3 роки тому +2

      One thing is for sure, RE agents are very easy to locate. Google RE name and company.
      EX: "Jim Johnson Keller Williams" you can also add the person's city. They WANT you to find them.

  • @Eyetoxiic
    @Eyetoxiic 3 роки тому

    Wait ARV 171k, 60k rehab + 100k price tag (if you get it under contract for 90k and have a 10k wholesale fee) for cash buyer to buy that would leave 11k for the investors profit right ? Idk if it’s a good or bad habit but I always look at what the investor would actually profit from it. What’s the right profit amount that most say yes too I haven’t actually started wholesaling yet just curious

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @mikejr1152
    @mikejr1152 3 роки тому +3

    Salute to you and your content,much appreciated💯 I'd say stick to YOUR ORIGINAL numbers to give yourself more breathing room in the deal. 64k-68k sounds conservative.👍🏼 Looking forward to the follow-up vid😎

    • @Liliinvests
      @Liliinvests  3 роки тому +1

      Great insights! Stay tuned for next weeks update 😉

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @moreeivgi
    @moreeivgi 3 роки тому

    How can I get that numbers sheet with that calculation - ?

  • @Mark-xr6qr
    @Mark-xr6qr 3 роки тому

    How can a get involved in your mentoring program?

  • @bryanrupley1352
    @bryanrupley1352 3 роки тому

    I think going against your own deal calculator isn't the best idea... Just because the larger house sold for $200k+ doesn't mean you'll get that even renovated, you'll likely get around 105-107/sqft fully renovated. I'd feel comfortable offering is around 51-52K, sell to CB at $62k who then rehabs ($61k) for a total of $123k all in. They would then turn around and sell for $153k bringing in a profit of $30k (less considering closing costs etc)

    • @Liliinvests
      @Liliinvests  3 роки тому

      Great insights! Stay tuned for next weeks update 😉

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @AquaBlueKC
    @AquaBlueKC 3 роки тому +1

    Crazy that 80% works in OK 😱

    • @Liliinvests
      @Liliinvests  3 роки тому

      Part 2 out now! ua-cam.com/video/G9jJfH_iUhE/v-deo.html

  • @ItsDayDayTv
    @ItsDayDayTv 3 роки тому +1

    Upload a video of you hooping 👀👋🏾🔥

    • @Liliinvests
      @Liliinvests  3 роки тому +1

      lol go watch my highlights

    • @moses2508
      @moses2508 3 роки тому

      @@Liliinvests we need to see highlights within the pandemic lol 😂😂

  • @BadNephilim305
    @BadNephilim305 2 роки тому

    It's shocking to hear that there are beautiful 3 beds 2 baths homes selling in the 200,000 dollar range. In Miami, homes similar to those that were shown here are selling for 600,000 to 1 million.

  • @kiddcosmos
    @kiddcosmos Рік тому

    170

  • @cameronjohnson6919
    @cameronjohnson6919 3 роки тому +1

    Are you on clubhouse yet? I have an invite if you are not. It would be awesome to run a room with you!

  • @christopherlee2789
    @christopherlee2789 3 роки тому

    How did you make a written offer without proof of funds? I learned from Jerry Norton's videos that agents want to see proof of funds before they make any written offers. Where do we get proof of funds?

    • @leannacastellanos4829
      @leannacastellanos4829 3 роки тому

      Her first deal was with jerry Norton’s proof of funds letter. She said it in one of her first videos. Once you start doing deals your investors can provide you with proof of funds.

  • @moreeivgi
    @moreeivgi 3 роки тому

    Are you not afraid in making an offer, getting a wholesale contract signed. And then not finding a buyer !??

    • @Liliinvests
      @Liliinvests  3 роки тому +4

      Watch my video about finding cash buyers!

  • @BadNephilim305
    @BadNephilim305 2 роки тому

    A bit too risky to offer 90,000 considering the foundation problem. No telling what else is in the rabbit hole, unbeknownst to the seller.

  • @djundadirt95
    @djundadirt95 3 роки тому

    Great Job. UA-cam/DJ undadirt. and. UA-cam/F a Mask 😷

  • @littlebytes7578
    @littlebytes7578 3 роки тому

    Ppl, don't pay for courses